Boston, MA - June 27, 2017 (Investorideas.com Newswire) Consumer electronics like smartphones and laptops have traditionally driven the most demand for energy storage devices such as lithium-ion batteries, but clean energy advances mean that transportation and stationary energy storage will soon become the largest energy storage markets, according to Lux Research, a leading provider of intelligence services, helping clients drive growth through technology innovation.
While consumer electronics make up the majority of revenue today, increased adoption of electric vehicles and hybrids drive transportation to dominate the energy storage industry with a $69 billion market in 2025. Transformations in the electricity grid mean that stationary storage has the highest growth rates and will reach $19 billion in 2025. This growth will have profound implications, ranging from how whole economies are powered to how populations and products move around.
"From electric cars to consumer electronics, we've already seen the importance of improved energy storage to enable better performance," said Christopher Robinson Lux Research analyst and a lead author of the report, Quantifying Growth Opportunities in the $105 Billion Energy Storage Market. "The emergence of plug-in vehicles from Tesla and its competitors will reshape the energy storage market, while increasing renewable deployments will make stationary storage energy another source of growth."
Lux analysts studied more than a dozen energy storage applications to quantify the opportunity in this rapidly growing market, finding that:
The report titled, Quantifying Growth Opportunities in the $105 Billion Energy Storage Market, is part of the Lux Research Energy Storage intelligence service.
About Lux Research
Lux Research is a leading provider of intelligence services, helping clients drive growth through technology innovation. With quality data derived from primary research, fact-based analysis, and opinions that challenge traditional thinking, Lux clients are empowered to make better, informed decisions today to ensure future success. A pioneer in the research industry, Lux is uniquely positioned with technical expertise in addition to business insights, augmented by advanced analytics.
Analysis you trust. Opinions you rely on. Make better decisions, faster. For more information visit www.luxresearchinc.com
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